ASHEVILLE, N.C. -- (May 14, 2004) -- Ingles Markets, Incorporated (NASDAQ: IMKTA) today announced that Robert Ingle II has been newly elected as chairman of its board of directors. Founder of the Company, Robert P. Ingle, will continue as chief executive officer of the Company and as the chairman of the executive committee of the board of directors.
Mr. Ingle II has served as a director of Ingles since 1997. He has been employed by Ingles since 1985 and has served as vice president of operations since 1996. Previous to his appointment as vice president, he held various positions both at store level and in the corporate offices.
"Robert grew up in the grocery business and has learned it from the ground up. He has been instrumental in helping Ingles to develop a first class management team and has proven himself to be an effective leader and a valuable member of that team," said Mr. Robert P. Ingle, Company CEO. "I believe he will be an outstanding chairman of the board. I look forward to focusing my attention on my duties as chief executive officer while working with Robert in his new role."
Ingles Markets, Incorporated is a leading supermarket chain with operations in six southeastern states. Headquartered in Asheville, North Carolina, the Company operates 197 supermarkets. In conjunction with its supermarket operations, the Company also operates 76 neighborhood shopping centers, all but 16 of which contain an Ingles supermarket. The Company's Class A Common Stock is traded on The Nasdaq Stock Market's National Market under the symbol IMKTA. For more information about the Company, visit Ingles' website at www.ingles-markets.com.